Calculation of National Insurance Contributions
From 6th April, it is possible that you might notice an increase in your take-home pay.
This is as a result of commencing the new tax year and the way that National Insurance Contributions (NICs) are treated for directors of their own limited companies.
From this point until the moment your taxable earnings reach £8,060* you will not have to pay any NICs. Once over this limit, you will pay NICs as you do at present.
If you have any questions about this, please do not hesitate to contact us.
Nova Accountancy fees
As you know, Nova Accounting charges a £10 per payment fee for handling all your limited company administration and processing expenses.
*pro-rata figure applicable for tax year 2016-17, depending on when you start in the financial year. This will be increasing to £8,164 for tax year 2017-18.
Welcome to Nova Accounting
Welcome to Nova Accounting – a specialist provider of accounting and business administration services tailored to the requirements of limited company businesses.
We have a wealth of experience in handling the tax and accounting requirements of self-employed workers and can provide you with a tailored service, which leaves you to concentrate on doing your business.
Setting up as a limited company can feel a bit daunting, but we're here to make things straight forward!
If you are new to self-employment, then help is at hand to guide you through the process from setting everything up, dealing with your tax each week, VAT, right the way through to completing your self-assessment.
Please call our customer services department to discuss all of the services we offer and any queries you may have.
We look forward to hearing from you soon!